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Procurement Market Intelligence Report
Packing Tools Sourcing Guide & Market Trends
Comprehensive intelligence for making smart purchasing decisions
Learn about actual and potential costs
How much should I pay for Packing Tools?
What is the average price of Packing Tools?
This procurement report includes pricing information to help you purchase Packing Tools. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Packing Tools been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Packing Tools yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Packing Tools?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Packing Tools with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase Packing Tools?
The packing tool market has a low level of market share concentration, with the top four vendors accounting for roughly 20.0% of total market revenue. While barriers to entry for manufacturers are moderate due to the capital investments needed to start a plant, barriers to entry are much lower for... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Quality of Materials
What types of materials are your products made of?
What is the typical life span of your tools?
What is the best-selling material for packing tools?
How do you test the quality of each packing tool?
Outsourcing
Do you manufacture the products, or does another company manufacture them?
Are they manufactured in the United States or overseas?
Have you had any problems with delays in deliveries from your suppliers?
How have delays affected your clients?
Have you had any problems with quality from your suppliers in the past?
Shipping
How long, on average, do your products take to ship?
What expedited shipping options do you offer?
Which regions or countries are you unable to ship your products to?
What is the most cost-effective shipping method?
What percentage of shipments has been late in the past three years?
Supply Chain Risk
How have your production costs changed during the past three years?
How do input cost fluctuations affect your clients?
What do you do to mitigate increases in production costs?
Do you have contracts with multiple raw materials suppliers or manufacturers? If so, which materials do they supply through the contracts?
What are the criteria for picking the manufacturers or suppliers you partner with?
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Key elements for every RFP
What should my Packing Tools RFP include?
Project Budget
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
Buyers can consult the Benchmark Price section of this report to determine about how much they should pay for their packing tools.
Selection Criteria
Buyers should evaluate the experience of the supplier.
Buyers should make sure the provider offers appropriate types of packing tools with the appropriate specifications and durability.
Buyers should evaluate suppliers based on the estimated costs of the units they are offering.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Project Schedule
Buyers need to include the date when proposals are due and when award information will be available.
Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of.
Evaluate major factors to mitigate risk
How risky is the Packing Tools supply chain?
Supply chain risk is moderate in the packing tool market. First and second tier suppliers provide manufacturers with the raw materials needed to produce packing tools. Among the second-tier suppliers, petroleum distributors pose the largest threat. Oil, which is a key input for plastics used in packing tools, has been... Subscribe to learn more.